What is Real Estate Law?
Real Estate refers to any property purchased with the intent to live in it permanently. In other words, it is not a mere investment, but the buying and holding of a legal property. In general terms, real estate law covers property purchased for resale. The laws governing these transactions generally concern title, easements, and trusts.
Title is one of the main issues of real property law. A lien on real property is called a “deed of trust.” A lien on real property is further broken down into two types of legal claims. The first type of claim is called an “accesory trust,” which means a deed of trust, and the second type is known as a “power of sale.” The laws governing these deals are usually referred to collectively as “real estate law.”
power of sale
Trust deeds are contracts between two or more parties. Under real property law, these kinds of contracts are considered legally binding. However, there are also a number of exceptions to these contracts. For example, if a person fails to fulfill his/her responsibilities under the contract, such that the deed has been forfeited, this can often be considered null and void in federal real estate laws. There are also a few exceptions to federal real estate laws which allow for alienation of property without undergoing the expensive process of foreclosure.
The next area of real property law covers easements and trusts. An easement is a right to use land that was acquired with the grantor’s permission. A trust is a legal entity, created by the grantor, but under which anyone can use the property. For example, if a neighbor has an unused lot that they are not using, they can use this lot to build a garage, install a hot tub, and then sell it to you if you so choose. These are very common types of easements and trusts.
business and residential real estate law
There are several other types of real property law, including business and residential real estate law. Business and residential real estate law covers such issues as land speculation, development of land, renting property, mortgage loans, taxes, and commercial leases. The laws governing these types of transactions often cover joint ventures and similar agreements between more than two people. One of the more important areas of business and real estate law today is the environmental protection of property. Environmental laws protect the environment from development and pollution, and this is a particularly important issue in many parts of the country.
One final area of real property law that covers a few different issues is the corporate law area. Corporate law governs many different issues, including how to buy, sell, and transfer property. For example, corporations may be able to purchase land, build a factory, and operate it on their own, without ever needing to hire workers or pay taxes. The same is true for commercial properties. This topic alone could make up a large part of the entire real estate law area. Because of this wide-range of topics, lawyers who specialize in real estate law are usually very knowledgeable about many different things regarding the law of real estate.